Ectomycorrhizal (ECM) fungi play a fundamental role in the nutrient cycle in terrestrial ecosystems, especially in forest systems. In this chapter, the value of ECM fungi is reviewed from a global framework, not only to increase the production of edible fruit bodies and biomass of plants but also for the regular practices of reforestation and restoration of ecosystems, with implicit applications in biofertilization, bioremediation, and control of soil pathogens. Ecological functions of the ECM fungi are briefly reviewed. The direct implications of the ECM fungi in forestry are described. To do so, its role as a biotechnological tool in forest nursery production is briefly analyzed, as well as the role of mycorrhizal helper bacteria (MHB). Subsequently, the direct role as biofertilizers of the ECM fungi in forest management is discussed: reforestation, plantation management, and ecosystem restoration. The importance of ECM fungi to increase the tolerance of plants against biotic or abiotic stresses is analyzed.